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3.—(1) The general levy is to be sent to the Regulatory Authority which is to collect and recover it on behalf of the Department.
(2) The general levy in respect of a financial year is payable in advance on the first day of that year, unless paragraph (4) applies.
(3) No additional levy or refund of levy is payable in respect of any change taking place during the financial year for which the general levy is payable (including a scheme ceasing to be a registrable scheme), unless regulation 7 applies.
(4) The general levy payable in respect of the financial year in which the scheme in relation to which the levy is payable becomes registrable is payable in arrears on the first day of the following financial year.
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